42 Entrepreneurs' relief: exclusion of goodwill in certain circumstances
Finance Act 2015 (2015 c 11) | Legislation

42  Entrepreneurs' relief: exclusion of goodwill in certain circumstances

(1)     Chapter 3 of Part 5 of TCGA 1992 (entrepreneurs' relief) is amended as follows.

(2)     In section 169H (introduction), in subsection (3), for “section 169L” substitute “sections 169L and 169LA”.

(3)     In section 169L (relevant business assets), in subsection (2), after “including” insert “, subject to section 169LA,”.

(4)     After that section insert—

“169LA Relevant business assets: goodwill transferred to a related party etc

(1)     Subsection (4) applies if—

(a)     as part of a qualifying business disposal, a person (“P”) disposes of goodwill directly or indirectly to a close company (“C”),

(b)     at the time of the disposal, P is a related party in relation to C, and

(c)     P is not a retiring partner.

(2)

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